Central banks must act quickly on inflation, warns BIS ...Qatar

Central banks must not let inflation become entrenched, with the threat of stagflation looming over the global economy, the Bank for International Settlements (BIS) warned yesterday in its annual economic report. BIS, considered the central bank of central banks, said institutions will have to move swiftly to ensure a return to low and stable inflation, while limiting the impact on growth. “The key for central banks is to act quickly and decisively before inflation becomes entrenched,” said BIS general manager Agustin Carstens. “If it does, the costs of bringing it back under control will be higher. The longer-term benefits of preserving stability for households and businesses outweigh any

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